Daily Review GBPUSD 04/01/2010

By IBTimes Staff Reporter | January 04 2010 5:37 AM

British Pound (GBP)

The Pound gained versus the Dollar after Nationwide HPI came out 0.4% as expected. Better than expected Unemployment Claims in the U.S erased most of the Pound early gains. Overall, GBP/USD traded with a low of 1.6049 and a high of 1.6235. GBP/USD is still trading on a downward channel on the daily chart and faces many resistance levels above the 1.62 level. Today, Manufacturing PMI is expected stronger with 52.1 versus 51.8 prior. Net Lending to Individuals is expected with 0.6B versus 0.3B prior.

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GBP/USD - Last: 1.6145

Resistance

1.6250

1.6300

1.6345

Support

1.6050

1.6020

GBPUSD

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